Q4 2024 Frontera Energy Corp Earnings Call Transcript
Key Points
- Frontera Energy Corp (FECCF) met its 2024 guidance targets, including key upstream operating and financial objectives.
- The company closed the year with a strong balance sheet, including a $223 million cash position and reduced consolidated debt and lease liabilities by over $30 million.
- Frontera's infrastructure business segment delivered strong results, generating a 2024 adjusted infrastructure EBITDA of over $107 million.
- The company returned approximately $83 million to shareholders in 2024 through dividends, share repurchases, and substantial issuer bids.
- Frontera achieved 100% of its 2024 sustainability goals, including restoring 769 hectares of land and achieving its best total recordable incident rate performance ever.
- Frontera Energy Corp (FECCF) recorded a net loss of $24.2 million for the full year 2024.
- The company's production through March 9, 2025, was below guidance due to unexpected well failures.
- Operating costs increased due to higher well service activity, FX rates, and inflationary pressures on services and wages.
- The NPV10 of 2P reserves presented a small decrease mainly due to the reserves decrease.
- The infrastructure business saw a year-over-year decrease in adjusted infrastructure EBITDA due to higher costs from inflationary pressures and indexation on wages.
Good morning. My name is Ina, and I'll be your conference facilitator today. Welcome to Frontera Energy's fourth quarter in year 2024 operating and financial results conference call.
All lines are currently on mute to prevent any background noise. I would like to remind you that this conference call is being recorded today and is also available to audio webcast on the company's website.
Following the speaker's remarks. There will be time for questions. Analysts and investors are reminded that any additional questions can be directed to Frontera following today's call at [email protected].
This call contains forward-looking information within the meaning of applicable Canadian securities laws relating to activities, events or developments the company believes or expects will or may occur in the future.
Forward-looking information reflects the current expectations, assumptions, and beliefs of the company based on information currently available to it. Although the company believes the assumptions are reasonable, forward-looking information is not a guarantee of
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